Cemtrex, Inc. (NASDAQ:CETX) Q1 2023 Earnings Call Transcript

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Unidentified Analyst: Well, I appreciate that. What I look forward to some positive outcomes, I really do. Thank you and I look forward to it.

Saagar Govil: Yes. Thank you.

Operator: Thank you. Next question comes from the line of Larry Holub from Holub Family Office. Please go ahead.

Larry Holub: Taking my question, I’m just wondering if you could talk about upcoming milestones that we should be looking for to monitor and keep track of the company’s progress in the near term, for instance, new customers, pipeline, backlog and things like that?

Saagar Govil: Sure. Thanks for the question, Larry. At the company, we have a lot of exciting things going on. I think there’s a couple of probably, key things to continue to look out for to kind of monitor our progress. I think the first thing I would point out is, we have a couple of AI related products that are going to be released under Vicon over the coming weeks or months, which we feel is going to be really exciting for our customers that they will really love it and will be a growth driver for the company. As you know AI is becoming a hot topic in the media these days. And we had been pursuing a path towards developing AI within the company for the last couple of years. We believe AI is going to play a significant role in security going forward and we’re intensely focused on leveraging it throughout some experience going forward.

So there’ll be product launches around that to look forward to. Additionally, we’re pursuing a number of different projects — sizeable projects, and I think as we continue to win customers and deals, we’ll be making announcements about those customer wins. And so I think that’s another thing to keep looking out for. We’re also looking at a number of bolt-on acquisitions for AIS and, we’ve been in different levels of conversations with some opportunities. And I think as we’re able to find and execute on the right transactions, we’ll certainly make an announcement about that. And then lastly, I think the key thing is to just continue to monitor our quarters, right? So we’re continuing to make systematic and methodical improvements in the business.

And I think that should continue to translate into better and better financial results as we go forward. And whether it’s the top line, gross margin improvements or operating income improvements, I think on all three levels, we’re taking a real hard look at wherever we can drive better results. And so I think all of that will continue to translate into milestones shareholders can look out for over the coming weeks, months and quarters.

Larry Holub: Great. Looking forward to it. Thank you.

Operator: Thank you. Ladies and gentlemen, we have reached the end of the question-and-answer Session. I would now like to turn call back over to Mr. Govil for his closing remarks.

Saagar Govil: Thank you. I would like to thank you all for each joining our earnings conference call today and look forward to continuing to update you on our ongoing progress and growth. If we were unable to answer any of your questions today, please reach out to our IR firm and regroup and we’d be more than happy to assist. Thank you for your time, everyone.

Operator: Thank you, sir. The conference of Cemtrex, Inc. has now concluded. Thank you for your participation. You may now disconnect your lines.

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